One to One on UKMortgages, the voice-activated Mortgage app – video demonstration

by: Mortgage Solutions

Q. Mark. Thanks for joining me to talk exclusively about Mortgage Brain’s latest launch. What’s it called and tell us what it does please?

A.There has been lots of chatter about digital offerings and so called Robo Advice over the last 18 months or so. While much of this has been hot air, it has brought the customer journey more front of mind.

We championed the consumer experience of using advisers and technology at our recent Mortgage Vision events with the launch of our client portal in the Key, our CRM system and our digital customer journey solutions.

The expectations of consumers and the available technology are changing at an ever-increasing pace. I’m very proud to announce that Mortgage Brain has developed and launched the first ever UK Mortgage skill for a Smart Speaker device.

This mortgage skill, a voice-activated component of an Alexa app will be on the Amazon Echo, where Alexa, Amazon Echo’s interactive assistant can now help consumers find a mortgage and a local mortgage adviser.

So, why this software and why now? How many users does Amazon have for its Echo at the moment?

There are millions of homes around the country where Alexa has almost become another member of the family. Alexa plays you music, reads your children stories, turns your lights on and can now help you with your mortgage.

Voice technology through a ‘Smart Speaker’ device is gathering pace. Amazon won’t issue user numbers but a recent survey by Radiocentre concluded that 40% of homes will have a ‘Smart Speaker’ in 2018 and Amazon’s Echo will account for two thirds of them.

This technology is fast moving and growing in its use and the time is right for this sort of innovation. This is cutting edge stuff as we’re taking mortgage advisers that use Mortgage Brain right into people’s homes free of charge.

So you have created this skill, what impact are you anticipating this will have for advisers and how does this fit in with what you offer now?

A few years ago we took a leap of faith and introduced UKMortgages, the first Mortgage app for smart phones and tablets. It is now the most popular mortgage app.

It has been used about two million times and has introduced tens of thousands of consumers to advisers and this new mortgage skill should prove to be just as popular.

It’s important to look at the bigger picture as this is the start of a consumer’s digital mortgage journey. After this initial introduction, they can complete a fact find online and securely exchange documents and messages through The Key’s Client Portal.

And that’s not the end of the story, as the advice process, product selection and application submission through to completion can be just as slick and efficient using our sourcing systems and application submission platform.

Why did you focus on this rather than application submission, for example?

We’re announcing this new skill on Amazon’s Echo but please don’t think this is all we’re doing.

With about £120bn of mortgage business flowing through one or more of our systems every year and over 22,000 active users, continued product investment is crucial. We invest over 40% of our expenditure each year back into developing our products which equates to a team of about 50 people dedicated to delivering new and enhancing existing products.

With regard to application submission, we are the only company that delivers this across multiple high street lenders with well over 100,000 mortgage transactions being processed annually. 10 lenders receive applications directly through MTE, our digital AIP and application submission platform. We are investing here too and we’ll be making more announcements about this in the future.

Going back to the Amazon Echo skill, how does it work and does it use Application Programming Interfaces or APIs?

From a technical point of view, the voice recognition software collects information from the consumer and sends it in to our cloud-based systems through our APIs. We send mortgage or adviser details back to the Echo which are then verbally given to the customer by Alexa.
Let’s give it a go?

[02:19]

When is this available and how many advisers are on the find an adviser skill?

This is available now to everyone who has an Amazon Echo.

Mortgage advisers who use our sourcing systems are entitled to be on the find an adviser skill on the Amazon Echo and the UKMortgages app free of charge. Over 5,000 companies are already included and they or their network just need to opt in.

If they use Mortgage Brain and would like to check their details they can always ask Alexa or go on the UKMortgages phone app or website.

They can also change or update their details on our Mortgage Brain website by clicking on the products tab and selecting the UKMortgages page.

But like I said earlier it’s not just about voice technology. It’s about enabling advisers to engage with customers in the way they expect to and most importantly making their journey to getting a mortgage as smooth and efficient as possible. The adviser’s skill and knowledge, coupled with joined up efficient technology makes this possible.

This is far from being our first innovation. We were the first to deliver off-line and on-line mortgage sourcing, electronic mortgage AIP and application submission, interactive adviser websites, APIs, phone apps and now voice technology. And there’s more to come.

I’m very proud of our achievements but we are very firmly focused on the future.

NEWSLETTER SIGN UP

For just two more minutes of your time, you can register for premium access

Specialist lending newsletters

Access to exclusive content

Priority event notifications

Business information tailored specifically to your business needs

Engage in interactive commenting and voting in our weekly polls

Specialist Lending Newsletter

You may also be interested in the Specialist Lending Solutions newsletter. All the latest news, analysis and insight from the mainstream residential lending market. Including industry news, adviser business strategy tips and market commentary.

Email address

First name

Surname

Postcode

By submitting your details, you are agreeing to AE3 Media’s privacy and data policy
The data controller is AE3 Media Ltd. We will use your data for the purposes of sending you newsletters from Mortgage Solutions and any other relevant information from Mortgage Solutions such as events, research, feedback, and surveys. You can view the full details by visiting the privacy policy

LOGIN

please sign-in using your email and password

Success....

Please enter your email address and we will email you a link where you can change your password.

Premium access

Register to gain access to MortgageSolutions.co.uk for the latest news analysis, interactive comment, industry video and features, all at your finger tips. Vote in our polls, get your opinion across on the news and watch out for our weekly editorial round-up features.

Delegate places are free of charge, subject to approval by the organisers based on job criteria

Registered delegates have access to the seminars where applicable. You will be given an identification badge, which must be shown upon request.

Once you have registered and your application has been accepted, then you are expected to attend. If you are subsequently unable to attend, please make sure your notice of cancellation is sent at least three weeks prior to the date of the event.

All cancellations must be received in writing. You will receive confirmation of your cancellation. Suitably qualified replacements may be sent if you are unable to attend; however, the organisers must approve them before the event takes place.

Should you be unable to attend, a substitute delegate is always welcome, subject to confirmation by the organisers and on receipt of the change in writing.

AE3 Media reserves the right to change the programme, speakers, dates or venue at any time, without notice. Should for any reason the venue or speakers change, or the event be cancelled due to an act of terrorism, extreme weather, disease control, industrial action, act of God or any eventuality beyond the control of AE3 Media, we shall endeavour to reschedule; but the client hereby indemnifies AE3 Media and holds AE3 Media harmless from and against any and all costs, damages and expenses, including legal fees, incurred by the client.

AE3 Media will not be liable for damage, loss, injury, accident, annoyance, delay or irregularity, which occurs by reason of any act or default committed by any person or company.

UK law shall apply to any claim against AE3 Media and all proceedings shall be within the exclusive domain of the UK Courts.

The signature of the delegate/visitor or his/her duly authorised agent on the registration form shall signify the delegate/visitor's acceptance of the above conditions and the same shall bind both parties to this contract.